The 'Property Brothers' joined the show to talk about the latest venture in drewandjohnathan.com, and offered up some homebuyer advice.

<div class="block">The &#39;Property Brothers&#39; Drew and Johnathan Scott, co-founders of Scott Brothers Global, joined &#39;Stretching Your Dollar&#39; to talk about their latest venture, drewandjohnathan.com. The site is geared toward simple living and helping people get the products they need.</div>

Stretching Your Dollar

Stretching Your Dollar: 'Property Brothers' Offer Homebuyer Advice

We are so excited to welcome our next guest to the show. They've been household names since their show, Property Brothers premiered in 2011. Since then. They've been on countless shows, written books, created their own product line, started a production company and just recently launched their own website Drew and Jonathan dot com, real estate experts, designers, entrepreneurs, and so much more. Drew and Jonathan Scott. Welcome to the show guys when you lay it all out like that and you list everything we sound like overachiever you're a hype person. I am your hype person. I'm a huge fan. It is very impressive what you guys have accomplished and you two have even more projects in the works. Tell us about the latest when it comes to Scott Brothers Global. Yeah, I think that you, you touched on it. We're most excited about launching Drew and Jonathan dot com because everybody is looking to do something at home that makes life a little easier that brings down the cost of living the cost of utilities and all of that is woven into the editorial we create at Drew and Jonathan dot com. And then we also try to have a clean funnel through so that people can actually get some of those products that they want. That'll make a difference. It's a lot of behind the scenes and, you know, we like to have fun on the shows and it's the same in real life. We just don't take ourselves too seriously if people are entertained, they're gonna learn more. Um, so we have a lot of tips and tricks from our 25 years in real estate. Everyone works so hard making the money that they make. We want to make sure they can keep that money in their pocket. Well, that's what the show is about. As you guys know, we talk about mortgage rates, new housing data, et cetera. So as real estate experts, what's your advice to those who may be in the market for a home right now? Maybe struggling to find something, any advice for them? Well, I think the, the one big thing is to plan ahead. You know, I if you're about to have a family, if you're about to have kids, you know, you wanna make sure you're not getting into a house, that's so small that you're gonna have to move again in six months because there are a lot of expenses with buying and selling houses and you wanna keep that money like Jonathan said in your pocket. But also there are a lot of people that are in homes right now and they're trying, you know, rates are so high and they're having to renew. So looking for ways that they can stretch their dollar. And right now, for example, if you have a basement that's unutilized or you have a garage in California where we are, they're really pushing to have garage conversions done because there's a housing crisis. And if you have a little bit of extra revenue, if you have a place, you convert your garage, well, now you have a revenue uh stream as well. So trying to get a little smarter with how you're uh working real estate to make it work for you guys. I have to ask in your experience, what is the biggest money mistake people make when it comes to their homes? I, I would say diving in and starting a construction project without actually doing their research, seeing what products are gonna work best. What's gonna last? I remember for the longest time, everyone's like hardwood, hardwood always has to be hardwood and then they'll tell me, oh, well, we have four kids and 16 dogs and you know, two husbands and what whatever that's a they are gonna trash those floors in no time. So looking at products that will really work with your lifestyle is so important. Emotional buying is the tough thing because people get emotional whether it's a house that they love the kitchen, but they're ignoring that there's a train track right behind the house or um even products themselves they'll, they'll jump on his latest trend on tiktok, but then they're not realizing that that breaks down. It says it's a green product, but really it breaks down five times faster and you're spending more on replacing. So you have to do your research. Get organized work with the right professionals before you dive in. We've seen the incredible way you guys renovate and remodel spaces for homeowners. What do you say to people that say, you know what, it costs a lot of money to update our home? Yeah. Well, it does, especially in today's market. Anyone who went through the shortages of supplies that jacked up all the wood prices and metal prices and all that. We're starting to see things level out quite a bit, but that's why it's so important to look at what is gonna make life easier. We try and take it back, ask yourself the questions about what kind of improvements do you wanna do? Why do you wanna do those improvements? How is that gonna give you time back to spend with the kids? Well, that's how we analy it's like reverse engineering. A happy home and part of that will be, say you have four kids and you're doing ha laundry for half of your life. Well, maybe look at a solution that will free up more of that time. There are washer and dryer, uh, systems today that will do a wash and dry in 10 minutes each. So things like that would really free up a day and also thinking of, you know, people try to save money so they'll diy, well, the problem is you're not as good at drywall as that guy that does it every single day, right. So you think you're saving a few $1000 now? But when you go to sell your house, the buyers are smarter nowadays, they can tell the work wasn't done by a professional, they'll offer you five grand less. So in reality, you're hurting yourself, you're taking money away from yourself. So really understanding and acknowledging where it's smart to save and not where it's just cheaping out and putting lipstick on a pig. That is great advice. Also a great analogy. I love the lipstick on a pig. Any favorite, affordable remodeling tip you may have for our viewers. I mean, right now the, the, the big trend we're seeing is all in home automation, um technology that's going to bring your costs down because everybody can appreciate gas prices are going up. Uh Power bills are going up, everything is increasing, water bills are going up. So anything that can reduce your water use, power use gas use. In fact, a lot of communities around the country, uh they're, they're basically shutting down gas, they're banning gas on new, new construction. So we're moving to better technologies like heat pumps and things like that. If you think about it, your heating for your home is upwards of 80 to 85% of your energy cost comes from your, your heating, cooling of your home. So that we, we just love technology that is decarbonizing. Finding those smart solutions, even the air quality within your home is important. So getting rid of, I mean, we talk about this all the time but getting rid of your old gas stove and bringing in something like an induction range there. And there are also a lot of inexpensive solutions as well for bringing smart technology, you know, automated lights throughout your home, your thermostats as well that they, they'll know the ambient temperature outside. The funny thing too is these technologies have been around for a long time, but it's been commercial buildings and, and industrial spaces that have been benefiting from the energy savings on them. Let's get this into the home. So that's, that's why we're excited our goal when it comes to the manufacturing because we, we manufacture about 10.5 1000 products for the home. But our goal is to make sure that these technologies are affordable for everyone and accessible. We are now called the No BS Brothers because our whole thing is we're tired of people not being able to afford what's good for them, healthy for them and their family. We focus on families. And so that's what we're trying to do here is bring a lot of this to the to light, the more demand there is the more the price will come down. I'm so glad you guys are talking about sustainability because you're right. So many people are focusing that on that right now, especially with new construction. But do you think a fixer upper is a smart move right now for potential home buyers in the market? So there's always an opportunity to make money in real estate. You just have to really look at the numbers. The numbers don't lie, get the emotion completely out of it right now is not a flipping market, as we've said, people, however, there are still a lot of buyers out there and there's still some inventory, not a ton of inventory you're gonna make or lose money in the short term in what price you have. So if there's a house, that's really if we have one client right now who found an incredible deal on a house and he got the house, however, it's not cost effective for him to renovate it just yet. So they're gonna live in it for a while. They're gonna see some of the prices come down, lending come down and then they're gonna take the next step. I mean, as an example too, I, I have a property right now in Pasadena, it's a gorgeous property, but I was going to be selling, I was going to be doing renovation and selling it. But the way the market is right now, uh you calculate what the worth of it will be after you're done, it's not worth it. I'll spend all this time and money renovating and I won't get any more money. Uh Just because of the way the market is in that area. So you can still make money. But this is more of a market. We're trying to see if you have an opportunity with a rental. But like we said, converting your garage to find revenue stream there, guys, I'm learning so much during this segment. So as we gear up for the holidays, any advice for hosting families without stress and of course, without breaking the bank, I mean, I will say Jonathan and Zoe have become the host with the most. Uh We have a, we have an 18 month old and so I'm so exhausted from filming and then uh with, with Parker that we're like, oh, keep hosting these parties. We just did an they did an epic Halloween party with what, like 300 guests, 109 people. Yeah. Yeah, lots of kids. It's uh all about the logistics for the holiday. Make sure think about what people are gonna need from when they get in the front door to when they're eating to when they're heading out, make sure everyone has a safe ride home. Um But also the logistics are the best part for me. Yeah. Yeah. The zones are important, which, which you guys are so good at when you have people come over. If it's all like AAA bottleneck to get to your one area for entertaining. It's never great. You wanna have different areas for entertaining, create zones, have food or, you know, drinks in different areas that pull people to different spaces. Then you can actually have better flow too and, and always think of your seating map too. Put the annoying uncle who never shuts up on the opposite side of the table. Is that me? That's you? OK. All right guys, before I let you go, any last tips and trips from the property brothers for our viewers, I would just say, you know, check out Dr and Jan dot com because it really is a lot of inspiration for people who are looking to buy it. We highlight new products that, that are innovative for the home, um for decarbonizing your home, electrifying, but also take your emotion and your ego out of it. If you start justifying why you should spend on something or a certain house, the moment you're justifying something that is against what you were saying was important to you that should be a red flag. You need to step back and just think long term, don't think quick buck, quick fix, quick million dollar makeover. It's all the success comes for people who can plan ahead and look at long term investment. You guys are fantastic. We thoroughly enjoyed this segment. Thank you so much, Drew and Jonathan. We appreciate it. Thank you. You guys